Pernod Ricard's Absolut Vodka to Halt Russia Exports Amid Criticism in Sweden
April 18 2023 - 10:19AM
Dow Jones News
By Joshua Kirby
Vodka brand Absolut will stop exports to Russia amid an outcry
in its home nation of Sweden, it said Tuesday.
The brand, owned by French giant Pernod Ricard SA, acknowledged
criticism in Sweden where politicians had called for a boycott
after it resumed shipments to Russia.
"I think that many consumers think that it is very strange
behavior," Prime Minister Ulf Kristersson told the country's TV4
channel.
Absolut boss Stephanie Durroux pointed to its duty of care to
employees and partners. "We cannot expose them to massive criticism
in all forms," she said.
"The Absolut company has decided to stop the export of its brand
to Russia," she said.
Pernod Ricard, which also counts Jameson whiskey and Martell
cognac among its brands, has reduced its activity and stopped all
marketing spending in Russia, Ms. Durroux said. It has however
maintained limited supply to ensure the viability of its
distribution subsidiary in the country, she said.
"Pernod Ricard has [therefore] been able to protect its local
team from any local criminal liability, relating to 'intentional
bankruptcy' in particular," Ms. Durroux said.
Absolut, the world's sixth-largest spirits brand according to
Pernod Ricard, said however that resuming direct shipments wouldn't
prevent the brand from being sold by third parties in Russia,
noting that the parallel market has grown strongly in recent
months.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
April 18, 2023 10:04 ET (14:04 GMT)
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